Geode Capital Management LLC Acquires 10,448 Shares of NewJersey Resources Corporation $NJR

Geode Capital Management LLC raised its stake in shares of NewJersey Resources Corporation (NYSE:NJR) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,629,373 shares of the utilities provider’s stock after purchasing an additional 10,448 shares during the period. Geode Capital Management LLC owned 2.61% of NewJersey Resources worth $121,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new stake in NewJersey Resources during the third quarter worth $28,000. Bessemer Group Inc. boosted its stake in NewJersey Resources by 60.1% during the third quarter. Bessemer Group Inc. now owns 613 shares of the utilities provider’s stock worth $29,000 after buying an additional 230 shares in the last quarter. Torren Management LLC acquired a new stake in NewJersey Resources during the fourth quarter worth $35,000. Neo Ivy Capital Management acquired a new stake in NewJersey Resources during the third quarter worth $48,000. Finally, Parallel Advisors LLC boosted its stake in NewJersey Resources by 56.9% during the third quarter. Parallel Advisors LLC now owns 1,001 shares of the utilities provider’s stock worth $48,000 after buying an additional 363 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

NewJersey Resources Price Performance

Shares of NJR opened at $55.35 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.80 and a current ratio of 0.94. The stock has a 50 day simple moving average of $56.01 and a 200 day simple moving average of $51.88. NewJersey Resources Corporation has a 52-week low of $43.46 and a 52-week high of $58.57. The firm has a market capitalization of $5.59 billion, a PE ratio of 16.42 and a beta of 0.50.

NewJersey Resources (NYSE:NJR) last issued its quarterly earnings data on Monday, May 4th. The utilities provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The business had revenue of $939.40 million during the quarter, compared to analyst estimates of $849.95 million. NewJersey Resources had a return on equity of 14.58% and a net margin of 15.67%.NewJersey Resources’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.78 EPS. NewJersey Resources has set its FY 2026 guidance at 3.480-3.630 EPS. Sell-side analysts predict that NewJersey Resources Corporation will post 3.5 EPS for the current fiscal year.

NewJersey Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.475 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.4%. NewJersey Resources’s dividend payout ratio is currently 56.38%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company began coverage on shares of NewJersey Resources in a research note on Tuesday, May 12th. They set an “overweight” rating and a $63.00 price target on the stock. Mizuho lifted their price objective on NewJersey Resources from $54.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, April 21st. Weiss Ratings raised NewJersey Resources from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 27th. Wall Street Zen raised NewJersey Resources from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Argus set a $63.00 price objective on NewJersey Resources in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $58.17.

Insider Activity at NewJersey Resources

In related news, CFO Roberto Bel sold 6,105 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $55.10, for a total value of $336,385.50. Following the sale, the chief financial officer owned 19,780 shares in the company, valued at approximately $1,089,878. This represents a 23.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard Reich sold 5,449 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $52.99, for a total value of $288,742.51. Following the completion of the transaction, the senior vice president directly owned 26,975 shares in the company, valued at approximately $1,429,405.25. This represents a 16.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 23,704 shares of company stock worth $1,307,389. Insiders own 0.70% of the company’s stock.

NewJersey Resources Company Profile

New Jersey Resources Corporation is a publicly traded energy services holding company headquartered in Wall Township, New Jersey. The firm’s primary focus is on the safe and reliable distribution of natural gas, along with complementary energy services and renewable energy investments. Its operations center on delivering cost-effective solutions to residential, commercial and industrial customers throughout the state.

The company’s principal subsidiary, New Jersey Natural Gas, owns and operates an extensive pipeline network that spans northern, central and southern New Jersey.